Thursday, October 30, 2008

What if Wall Street & Big Oil Want McCain?

Write the script for a McCain win in light of people's financial concerns. The stock market would soar a week before election, stabilize and even grow a bit. This would occur despite dire news on the state of the economy.

Tuesday-- 889 point rise in the Dow Industrials
Wednesday-- 74 point fall (stability in current environment)
Thursday-- 190 point rise

While people won't have time to receive their IRA or 401(k) statements, a temporary relaxation of the financial vise could help John McCain.

Hurting Republican chances is ExxonMobil's record, record, record 3rd quarter profit of $14 billion. But not many citizens follow the financial papers. A deep drop in the price of gas could divert the public's attention.

A bribe of $1.50 a gallon can go a long way. It's not due to supply and demand, unless it takes seven months for that relationship to actualize. Consumers significantly cut back driving since March, yet gas prices soared through July. They eased slightly in August and September, helping BP and ExxonMobil achieve record profits.

Gas prices cratered through the floor in October, nearing $2 a gallon for regular unleaded. Big oil clearly wants John McCain. The question remains as to Wall Street's desire.